China pushes back at U.S. tariffs with new 25% levy of its own

May 13, 2019

China says it will impose tariffs on another $60 billion US worth of U.S. goods, a predictable retaliation after the United States escalated a bitter trade war by raising tariffs on $200 billion worth of Chinese products on Friday.

China will slap import surcharges on 5,140 U.S. products starting on June 1, with levies of 25 per cent on agricultural products such as honey, vegetables, coffee and various meats.

The move comes after Beijing threatened "necessary countermeasures" for Trump's tariffs on Friday.

"We are determined and capable of safeguarding our legitimate rights and interests," Foreign Ministry spokesperson Geng Shuang said. "We hope the United States will meet China halfway to address each other's legitimate concerns."

Beijing is running out of imports to penalize due to the lopsided U.S.-Chinese trade balance. Regulators have started targeting American companies in China by slowing down customs clearance for shipments and issuance of business licences...

This was excerpted from the 13 May 2019 edition of CBC News.

Topic(s)

International Trade and Border Management

Information source

Canadian News Channel

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